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Rebecky's Flowers 4U, Inc., had free cash flows during 2012 of $60 million, EBIT of $140 million, tax expense paid on its EBIT of $24

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Rebecky's Flowers 4U, Inc., had free cash flows during 2012 of $60 million, EBIT of $140 million, tax expense paid on its EBIT of $24 million, and depreciation of $14 million. Using this information, calculate the missing amounts on Rebecky's balance sheet below. (Enter your answers in millions of dollars.) a. 2012 Accounts Payable: $ mil b. 2012 Total Current Liabilities: $ mil C. 2012 Long-term Debt: $ mil 1 Balance Sheet as of December 31, 2012 and 2011 in millions of dollars) 2012 2011 Current assets: Current liabilites: 2012 2011 Cash & marketable securities $ 30.00 $ 27.00 5 24.00 Accrued wages & taxes $ 32.00 $ 70.00 Accounts receivable $78.00 $68.00 Accounts payable Inventory 5136.00 $118.00 Notes payable Total CA 5 241.00 $ 210.00 Total CL Fixed assets: Long-term debt: Gross plant & equipment $400.00 $350,00 Equity $ 40.00 $ 70.00 $ 140.00 $ 175.00 Less: Depreciation $ 84.00 $ 70.00 Preferred stock (5 mil shares) $ 5.00 $ 5.00 Cash & marketable securities $ 27.00 $ 24.00 Accrued wages & taxes $ 32.00 $ 30.00 Accounts receivable $ 78.00 $ 68.00 Accounts payable Inventory $ 136.00 $118.00 Notes payable Total CA $ 241.00 $ 210.00 Total CL Fixed assets: Long-term debt: Gross plant & equipment $400.00 $350.00 Equity: $ 40.00 $ 70.00 $ 70.00 $ 140.00 $ 175.00 Less: Depreciation $ 84.00 $ 70.00 Preferred stock (5 mil shares) $ 5.00 $ 5.00 Net plant & equipment $ 316.00 $280.00 Common stock & paid-in $ 80.00 surplus (20 mil shares) $ 80.00 Other long-term assets Total FA Total assets $ 80.00 $ 80.00 Retained earnings $ 396.00 $360.00 Total Equity $637.00 $ 570.00 Total liabilites & equity $ 207.00 $170.00 $ 292.00 $255.00 $ 637.00 $ 570.00 Cash & marketable securities $ 27.00 $ 24.00 Accrued wages & taxes $ 32.00 $ 30.00 $ 70.00 Accounts receivable $ 78.00 $ 68.00 Accounts payable Inventory $ 136.00 $ 118.00 Notes payable Total CA $ 241.00 $ 210.00 Total CL Fixed assets: Long-term debt: Gross plant & equipment $ 400.00 $ 350.00 Equity: $ 40.00 $ 70.00 $140.00 $ 175.00 Less: Depreciation $ 84.00 $ 70.00 Preferred stock (5 mil shares) $ 5.00 $ 5.00 $ 316.00 $280.00 Net plant & equipment Common stock & paid-in surplus (20 mil shares) $ 80.00 $ 80.00 Other long-term assets Total FA Total assets $ 80.00 $ 396.00 $ 637.00 $ 80.00 Retained earnings $360.00 Total Equity $570.00 Total liabilites & equity $ 207.00 $ 292.00 $ 637.00 $ 170.00 $ 255.00 $570.00

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